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By the middle of the 21st century, people from ethnic minority groups and from other minority populations – based on race, gender, ethnicity, and more – will dominate the US population and greatly influence the nation’s prosperity. More than a decade into the new millennium, minority businesses still are not proportionately represented in the supply chains of major American companies doing business in global markets. Diversity consultants Leonard Greenhalgh and James H. Lowry offer an eye-opening analysis of where minority businesses stand today and what the US as a whole should do to help them survive and prosper. As they work to put minority businesses’ plight at the forefront of the economic agenda, the authors (who tend to discuss minority populations as a monolithic unit) urge creation of a “National Industrial Strategy” that includes contracts with minority businesses amid the work of restoring the US economy. The authors explain how the “old-school procurement” model traps minority businesses on the periphery and call for replacing it with a diverse “value-chain” paradigm. getAbstract recommends this intriguing, if idealistic, blueprint to policy makers and businesspeople.

In this summary, you will learn

How minority demographics will affect future US prosperity,

Why corporations must partner in new ways with promising minority business enterprises, and

Why the US needs a new “National Industrial Strategy” and what it would do.

About the Authors

Leonard Greenhalgh is director of programs for minority- and women-owned businesses at Dartmouth’s Tuck School of Business. James H. Lowry is a senior adviser and former senior vice president of the Boston Consulting Group.

Summary

“Minority Business Success Is a National Priority” Minority populations are integral to the fabric of the United States, but the deck has been stacked against them throughout history. Circumstances are changing; by 2042, “minorities and women will dominate the workforce, the entrepreneurial...